An economics teacher named Jibladze [at LBJ High school Academy] is teaching his students about the $700,000,000,000,000 bail out plan. He is giving them a lecture on it. It is amazing that these handful of high school students understand this! They were raising their hands to contribute. I would raise my hand to ask questions. How do the banks get their Money back? He must have had to work very hard to explain this to his students. He points out,"People are dumb and believe what they want to believe; what politicians tell them." I think this is half true. People aren't quite stupid but they are stubborn; they won't usually change their mind.
the Austin economics teacher
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6 comments:
Logan, the banks get their money back by putting the house/property on what’s called a foreclosure.
Why do you think it is amazing that high school students understand it?, LBJ is a great school!
i agree with Jibladze that humans are stupid. like i said in my earlier blog, mccain wants to build 43 neuclear power plants that is stpid. also, if humans werent stupid would we be in this mess with global warming, the financial crisis, the high gas prices and the iraq war
I think it is 1/4 true. People are not stupid, people will sometimes believe what others believe because of peer pressure, and they will change their minds with good reason applied. However, they do sometimes tend to believe politicians.
True, but how often are politicians correct? Bush often isn't!
I think stupid may be too harsh. People tend to be easily distracted, self-involved, and less informed than they probably should be. The news media tends to cast issues in black and white, rather than in a continuum of shades of grey.
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